Precision Business Insights has published a report on the global psychedelic therapeutics market, estimating its value at USD 3.5 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 13.30% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/psychedelic-therapeutics-market

Market Definition:

The suggested use of psychedelic drugs, including psilocybin, ayahuasca, LSD, psilocin, mescaline (peyote), DMT, 5-MeO-DMT, Ibogaine, MDMA, to cure mental problems is known as psychedelic therapy or psychedelic-assisted therapy. Psychedelic drugs are classified as controlled narcotics in most countries as of 2021, and with a few exceptions, psychedelic therapy is not legally accessible outside of clinical trials.

Drivers:

1)      Increasing prevalence of mental health disorders

2)      Growing number of research studies and clinical trials

3)      Growing acceptance of psychedelic drugs for treating depression

The global psychedelic therapeutics market segmentation:
1) By Source: Natural Psychedelic Substance, Synthetic Psychedelic Substance.
2) By Drug Type: Gamma Hydroxybutyric Acid, Ketamine, Psilocybin, Lysergic Acid Diethylamide, 3,4-MethylEnedioxyMethamphetamine, Others.
3) By Application: Treatment-Resistant Depression, Opiate Addiction, Post-traumatic Stress Disorder, Narcolepsy, and Panic Disorder, Others.
4) By Distribution Channel: Hospitals Pharmacy, Retail Pharmacy, Online Pharmacy.

Based on Drug type A dissociative anesthetic called ketamine is used in medicine to induce and sustain anesthesia. Additionally, it is used to control pain and cure depression. The majority of ketamine's psychedelic effects are due to its NMDA receptor antagonistic nature.

Regional Overview:
The report also examines the current concerns and their Future Effects on the psychedelic therapeutics market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the psychedelic therapeutics market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.

·         North America (U.S., Canada)

·         Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

·         Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)

·         Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)

·         Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

The key players profiled in the global psychedelic therapeutics market report are Janssen Global Services LLC, Jazz Pharmaceuticals Inc., Hikma Pharmaceuticals PLC, Verrian, Pfizer Inc., Hoffmann-La Roche Ltd, Avada, Celon Pharma SA, Cybin Corp, GH Research, Entheon Biomedical Corp, PharmaTher Holdings Ltd, NRx Pharmaceuticals

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